A EXPLORATORY STUDY ON UNDERSTANDING BENEFIT AND RISK FRAMEWORK OF FINTECH ADOPTION

Abstract

Financial technology is a word used to characterize the recent surge in innovative banking and financial services due to developments in information and communication technology (Fintech). Customer adoption of Fintech is influenced by their perception of the benefits and drawbacks associated with using such technologies. This research examined how customers' perceptions of Fintech, both Positive and negative, influence their choice to use the technology. Financial, legal, security, and operational risks will be seen as negatives, while economic gains, frictionless transactions, and convenience will be seen as positives. In this study, 250 respondents participated in the primary data collection process, providing valuable insights on the study's topic. Google Forms was used to collect respondents' data. There is a direct correlation between how optimistic or pessimistic one is about utilizing Fintech and the extent to which one believes the various benefits and risks associated with doing so. Finally, this study adds to the rudimentary knowledge of how many factors, including the perception of benefits and risks, influence the desire to utilize Fintech. SPSS was used for data management and AMOS to build structural equation model.

Keywords: Financial Services, Fintech, Security, SPSS, SEM